RDR1
New Member

capital gains

I sold a rental property in2020.  It was fully depreciated, thus the entire sales price was subject to capital gains tax.  However, Turbo Tax assigned that amount to my ordinary income total.  Did I do something wrong or is that the way it is done? In addition, I got a letter from y the IRS saying I had overpaid 2020 taxes and sent me a refund.  Any enlightenment?